{"what_this_is":"The machine-readable twin of the BankPulse page for one RBI rulebook. Same points, same dates, same paragraph references as the page a person reads. RBI's own wording is not reproduced here: each point names the RBI paragraph, the character offset into the text BankPulse read and the sha256 of that text, so the claim can be checked against RBI's own document.","schema_version":1,"release_id":"d653cdb0a5","generated_at":"2026-09-15T00:33:59.117975+00:00","id":"md12969","title":"Reserve Bank of India (All India Financial Institutions – Know Your Customer) Directions, 2025","document_kind":"Directions","page":"https://bankpulse.ai/rule/md12969","status":"In force","importance":{"code":"MR","label":"MUST READ","weight":"Must read","why":"Binding RBI Directions naming this institution class in the title","layer":"bankpulse_inference"},"applies_to":{"shown":"All India financial institutions","class_code":"AIFI","from":"the document's own title","layer":"bankpulse_inference"},"dates":{"prid":"md12969","mode":"four_dates_v1","published":{"label":"Published","value":"November 28, 2025","stated":true,"why":"The day RBI put this document out."},"effective":{"label":"Starts to apply","value":"","stated":false,"why":"Not stated separately in this document. Read the rule itself before you assume a start date."},"transition":{"label":"Time to get ready","value":"","stated":false,"why":"Cannot be worked out until the day it starts to apply is known."},"deadline":{"label":"Last date to act","value":"","stated":false,"why":"No date to act by was found in this document. Other dates may sit inside single paragraphs."},"sources":{"published":"doc_date in data/highlights/md12969.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=12969","document_date":"November 28, 2025","read_by_bankpulse":"2026-08-21 16:20:17 UTC","text_sha256":"9c1646761ec7505f7b0db15ae3f86a090a80205dc3b20d8edd4a2370ed645c5b","word_count":null,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":70,"points_naming_an_rbi_paragraph":70,"points_stored":70,"actions":0,"amendments":1},"points":[{"n":1,"claim":"md12969-2b7619c0","page_group":"Opening paragraphs","stored_section":"THE CORE IDEA","heading":"The law behind it","plain_english":"The rules rest on the Prevention of Money-Laundering Act, 2002 and its 2005 Rules.","rbi_paragraph":"Opening paragraphs","rbi_char_offset":3953,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p1","layer":"bankpulse"},{"n":1,"claim":"md12969-a2b2a013","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Ten per cent, a company","plain_english":"For a company, holding more than ten per cent is one test of beneficial ownership.","rbi_paragraph":"Para 5(1)","rbi_char_offset":7878,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p2","layer":"bankpulse"},{"n":2,"claim":"md12969-527ac909","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Fifteen per cent, a body","plain_english":"In an unincorporated body the same test is more than fifteen per cent.","rbi_paragraph":"Para 5(1)","rbi_char_offset":8893,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p3","layer":"bankpulse"},{"n":3,"claim":"md12969-13f78b4c","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Fifty thousand triggers checks","plain_english":"A one-off transaction of ₹50,000 or more brings the full identification duty.","rbi_paragraph":"Para 5(2)","rbi_char_offset":19495,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p4","layer":"bankpulse"},{"n":4,"claim":"md12969-53b91dc7","page_group":"Chapter I. Preliminary","stored_section":"WHO SHOULD ACT","heading":"Designated Director named","plain_english":"The Board must name a Designated Director who answers for compliance under the Act.","rbi_paragraph":"Para 5(1)","rbi_char_offset":10821,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p5","layer":"bankpulse"},{"n":5,"claim":"md12969-5defd093","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"KYC rules","plain_english":"This document sets the customer identification rules for all India financial institutions.","rbi_paragraph":"Para 1","rbi_char_offset":5215,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p6","layer":"bankpulse"},{"n":6,"claim":"md12969-0ce91fc2","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who is covered","plain_english":"These Directions apply to every all India financial institution.","rbi_paragraph":"Para 3","rbi_char_offset":5426,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p7","layer":"bankpulse"},{"n":7,"claim":"md12969-30c0b157","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Control counts as well","plain_english":"A person who controls the entity by other means is a beneficial owner too.","rbi_paragraph":"Para 5(1)","rbi_char_offset":7719,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p8","layer":"bankpulse"},{"n":8,"claim":"md12969-722848fa","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Then the senior official","plain_english":"Where no natural person can be found, the senior managing official is named.","rbi_paragraph":"Para 5(1)","rbi_char_offset":9215,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p9","layer":"bankpulse"},{"n":9,"claim":"md12969-9b09c12c","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Split payments still count","plain_english":"Several linked payments are read together, so splitting a sum does not avoid it.","rbi_paragraph":"Para 5(2)","rbi_char_offset":19607,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p10","layer":"bankpulse"},{"n":10,"claim":"md12969-9119872a","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"What a remote customer is","plain_english":"A remote customer is one who opens an account without meeting the all India financial institution at all.","rbi_paragraph":"Para 5(2)","rbi_char_offset":20980,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p11","layer":"bankpulse"},{"n":11,"claim":"md12969-d07cb8e0","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"What a shell bank is","plain_english":"A shell bank has no physical presence where it is licensed and no real group behind it.","rbi_paragraph":"Para 5(2)","rbi_char_offset":21797,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p12","layer":"bankpulse"},{"n":12,"claim":"md12969-eb0bc2b8","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Video call identification","plain_english":"An all India financial institution officer may identify a customer over a live video call.","rbi_paragraph":"Para 5(2)","rbi_char_offset":23195,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p13","layer":"bankpulse"},{"n":13,"claim":"md12969-478e78fe","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Video equals a meeting","plain_english":"A video call that follows the rules counts the same as meeting in person.","rbi_paragraph":"Para 5(2)","rbi_char_offset":23698,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p14","layer":"bankpulse"},{"n":1,"claim":"md12969-d1955d80","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Never tip off a customer","plain_english":"Group information sharing must be built so that nobody is tipped off.","rbi_paragraph":"Para 8","rbi_char_offset":30236,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p15","layer":"bankpulse"},{"n":2,"claim":"md12969-942a1d2e","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"The decision stays inside","plain_english":"Whether KYC has been met is a decision the all India financial institution cannot outsource to anyone.","rbi_paragraph":"Para 13","rbi_char_offset":33334,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p16","layer":"bankpulse"},{"n":3,"claim":"md12969-efbf976c","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Director reported to FIU-IND","plain_english":"The name and contact details of that Director must go to FIU-IND and RBI.","rbi_paragraph":"Para 14(2)","rbi_char_offset":33751,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p17","layer":"bankpulse"},{"n":4,"claim":"md12969-44016b36","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Board approves KYC policy","plain_english":"The Board must approve the all India financial institution's customer identification policy.","rbi_paragraph":"Para 6(1)","rbi_char_offset":28501,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p18","layer":"bankpulse"},{"n":5,"claim":"md12969-8d8687ea","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Four parts to the policy","plain_english":"The policy must cover acceptance, risk management, identification and monitoring.","rbi_paragraph":"Para 6(2)","rbi_char_offset":28573,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p19","layer":"bankpulse"},{"n":6,"claim":"md12969-6637fa5a","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Board policy on mobile changes","plain_english":"A Board approved policy is needed for changing a mobile number on a remote account.","rbi_paragraph":"Para 6(4)","rbi_char_offset":29320,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p20","layer":"bankpulse"},{"n":7,"claim":"md12969-c054b8e5","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Quarterly note to the committee","plain_english":"An audit note and compliance go to the Audit Committee every quarter.","rbi_paragraph":"Para 12(5)","rbi_char_offset":33225,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p21","layer":"bankpulse"},{"n":8,"claim":"md12969-c2d2f654","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Principal Officer duties","plain_english":"The Principal Officer watches transactions and reports what the law requires.","rbi_paragraph":"Para 15(1)","rbi_char_offset":34007,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p22","layer":"bankpulse"},{"n":1,"claim":"md12969-e2b6b6ed","page_group":"Chapter III. Customer Acceptance Policy","stored_section":"WHAT CHANGES","heading":"No anonymous accounts","plain_english":"No account may be opened in an anonymous, fictitious or benami name.","rbi_paragraph":"Para 17(1)","rbi_char_offset":34429,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p23","layer":"bankpulse"},{"n":2,"claim":"md12969-9fc407d4","page_group":"Chapter III. Customer Acceptance Policy","stored_section":"WHAT CHANGES","heading":"No account without checks","plain_english":"Where customer due diligence cannot be done, the account is not opened at all.","rbi_paragraph":"Para 17(2)","rbi_char_offset":34499,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p24","layer":"bankpulse"},{"n":1,"claim":"md12969-cac29777","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"OTP account balance limit","plain_english":"In an Aadhaar one-time password account the total balance cannot cross one lakh rupees.","rbi_paragraph":"Para 25(3)","rbi_char_offset":51798,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p25","layer":"bankpulse"},{"n":2,"claim":"md12969-12f53c81","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Two lakh a year","plain_english":"Credits into those accounts in a financial year cannot cross two lakh rupees.","rbi_paragraph":"Para 25(4)","rbi_char_offset":52045,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p26","layer":"bankpulse"},{"n":3,"claim":"md12969-23e79346","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"KEY DATES","heading":"OTP account, one year","plain_english":"An account opened by Aadhaar one-time password cannot run past one year without full checks.","rbi_paragraph":"Para 25(6)","rbi_char_offset":52405,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p27","layer":"bankpulse"},{"n":4,"claim":"md12969-595dd488","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Questions must change","plain_english":"The officer must change the questions so the video cannot be a recording.","rbi_paragraph":"Para 27(2)","rbi_char_offset":58724,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p28","layer":"bankpulse"},{"n":5,"claim":"md12969-ab60c4e8","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Printed e-PAN not valid","plain_english":"A printed copy of an electronic document, such as an e-PAN, cannot be used.","rbi_paragraph":"Para 27(2)","rbi_char_offset":61316,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p29","layer":"bankpulse"},{"n":6,"claim":"md12969-397e44d0","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"KEY DATES","heading":"Risk reviewed twice a year","plain_english":"Customer risk categories must be reviewed at least once in every six months.","rbi_paragraph":"Para 40(1)","rbi_char_offset":70973,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p30","layer":"bankpulse"},{"n":7,"claim":"md12969-45e27600","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"KEY DATES","heading":"High risk, two years","plain_english":"Papers of a high-risk customer must be refreshed at least once in two years.","rbi_paragraph":"Para 41(1)","rbi_char_offset":71986,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"Suppose a high-risk customer's papers were refreshed today. They must be refreshed again within two years. For a medium-risk customer the same papers would last eight years. For low risk they would last 10 years.","anchor":"https://bankpulse.ai/rule/md12969#p31","layer":"bankpulse"},{"n":8,"claim":"md12969-81b4dcd9","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"KEY DATES","heading":"Medium risk, eight years","plain_english":"For a medium-risk customer the gap may be eight years.","rbi_paragraph":"Para 41(1)","rbi_char_offset":72044,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p32","layer":"bankpulse"},{"n":9,"claim":"md12969-6bc4cfc6","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"KEY DATES","heading":"Low risk, ten years","plain_english":"For a low-risk customer the gap may be ten years.","rbi_paragraph":"Para 41(1)","rbi_char_offset":72100,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p33","layer":"bankpulse"},{"n":10,"claim":"md12969-4d177cdb","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"KEY DATES","heading":"Thirty days to update","plain_english":"A change in a customer's papers must reach the bank's records within 30 days.","rbi_paragraph":"Para 41(6)","rbi_char_offset":78668,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p34","layer":"bankpulse"},{"n":11,"claim":"md12969-1a511747","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"No second mobile number","plain_english":"A second mobile number cannot be linked to such an account for one-time passwords.","rbi_paragraph":"Para 43(2)","rbi_char_offset":82872,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p35","layer":"bankpulse"},{"n":12,"claim":"md12969-70d8ab8c","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Live location in video","plain_english":"The video must carry the customer's live location, with the date and time.","rbi_paragraph":"Para 27(1)","rbi_char_offset":55825,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p36","layer":"bankpulse"},{"n":13,"claim":"md12969-0345facb","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHO SHOULD ACT","heading":"Three warnings before","plain_english":"At least three advance intimations must go out before KYC falls due, one by letter.","rbi_paragraph":"Para 41(7)","rbi_char_offset":78970,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p37","layer":"bankpulse"},{"n":14,"claim":"md12969-50325819","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHO SHOULD ACT","heading":"Three reminders after","plain_english":"At least three reminders must follow, again including one by letter.","rbi_paragraph":"Para 41(7)","rbi_char_offset":79267,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p38","layer":"bankpulse"},{"n":15,"claim":"md12969-752661f3","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Notice before stopping account","plain_english":"Before it temporarily stops an account for a missing PAN, the all India financial institution must give notice.","rbi_paragraph":"Para 42","rbi_char_offset":80323,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p39","layer":"bankpulse"},{"n":16,"claim":"md12969-79822a71","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"First credit from own bank","plain_english":"The first money into such an account must come from the customer's checked account.","rbi_paragraph":"Para 43(5)","rbi_char_offset":83695,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p40","layer":"bankpulse"},{"n":17,"claim":"md12969-3d8b9fc9","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHO SHOULD ACT","heading":"Find the source of funds","plain_english":"For a politically exposed person the source of funds and wealth must be established.","rbi_paragraph":"Para 44(1)","rbi_char_offset":84350,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p41","layer":"bankpulse"},{"n":18,"claim":"md12969-0fa380c6","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Senior approval for PEPs","plain_english":"If a customer becomes a politically exposed person, senior management must approve keeping the account.","rbi_paragraph":"Para 44(1)","rbi_char_offset":84808,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p42","layer":"bankpulse"},{"n":19,"claim":"md12969-9a4e7527","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Only term loans there","plain_english":"In such an account only a term loan may be sanctioned, within a set ceiling.","rbi_paragraph":"Para 25(5)","rbi_char_offset":52212,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p43","layer":"bankpulse"},{"n":20,"claim":"md12969-415f769e","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Audit before account opens","plain_english":"An account opened by video call starts working only after an audit clears it.","rbi_paragraph":"Para 27(2)","rbi_char_offset":61716,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p44","layer":"bankpulse"},{"n":21,"claim":"md12969-52302c44","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Only credits on loans","plain_english":"When a loan account is stopped, only credits into it are allowed.","rbi_paragraph":"Para 42","rbi_char_offset":81581,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p45","layer":"bankpulse"},{"n":22,"claim":"md12969-e65c28cf","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Watched until met in person","plain_english":"Such an account stays under closer watch until the customer is seen or verified by video.","rbi_paragraph":"Para 43(6)","rbi_char_offset":83855,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p46","layer":"bankpulse"},{"n":23,"claim":"md12969-6030311f","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHO SHOULD ACT","heading":"Politically exposed persons","plain_english":"A relationship with a politically exposed person is allowed only on set terms.","rbi_paragraph":"Para 44","rbi_char_offset":83967,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p47","layer":"bankpulse"},{"n":24,"claim":"md12969-0e9b5963","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHO SHOULD ACT","heading":"Senior approval for a PEP","plain_english":"Opening an account for such a person needs senior management approval.","rbi_paragraph":"Para 44(1)","rbi_char_offset":84443,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p48","layer":"bankpulse"},{"n":25,"claim":"md12969-157a8dbb","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Their families are covered","plain_english":"The same duties apply to the family members and close associates of such a person.","rbi_paragraph":"Para 44(2)","rbi_char_offset":84831,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p49","layer":"bankpulse"},{"n":26,"claim":"md12969-d4d135d4","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Self help groups eased","plain_english":"The all India financial institution need not check every member of a self help group at account opening.","rbi_paragraph":"Para 46(1)","rbi_char_offset":86710,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":["deposit-account","microfinance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p50","layer":"bankpulse"},{"n":1,"claim":"md12969-f444cd38","page_group":"Chapter VII. Record Management","stored_section":"KEY DATES","heading":"Records kept five years","plain_english":"Transaction records must be kept for at least five years from the date of the transaction.","rbi_paragraph":"Para 47(1)","rbi_char_offset":87221,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p51","layer":"bankpulse"},{"n":2,"claim":"md12969-ef03129a","page_group":"Chapter VII. Record Management","stored_section":"KEY DATES","heading":"Identity papers after closure","plain_english":"Customer identity records must be kept for five years after the relationship ends.","rbi_paragraph":"Para 47(2)","rbi_char_offset":87393,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p52","layer":"bankpulse"},{"n":3,"claim":"md12969-3e96abec","page_group":"Chapter VII. Record Management","stored_section":"WHO SHOULD ACT","heading":"Charities on DARPAN","plain_english":"A non-profit customer must be registered on the DARPAN portal of NITI Aayog.","rbi_paragraph":"Para 48","rbi_char_offset":88983,"weight":"DO IT","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p53","layer":"bankpulse"},{"n":1,"claim":"md12969-8a5ca204","page_group":"Chapter VIII. Reporting Requirements to Financial Intelligence Unit – India","stored_section":"WHAT CHANGES","heading":"Alerts for odd transactions","plain_english":"Software must raise an alert when a transaction does not match the customer's profile.","rbi_paragraph":"Para 52","rbi_char_offset":91953,"weight":"DO IT","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p54","layer":"bankpulse"},{"n":2,"claim":"md12969-6d2e5099","page_group":"Chapter VIII. Reporting Requirements to Financial Intelligence Unit – India","stored_section":"WHAT CHANGES","heading":"Report does not freeze","plain_english":"Filing a suspicious transaction report is not by itself a reason to stop an account.","rbi_paragraph":"Para 51","rbi_char_offset":91292,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p55","layer":"bankpulse"},{"n":1,"claim":"md12969-44bdc7c3","page_group":"Chapter IX. Requirements/obligations under International Agreements - Communications from International Agencies","stored_section":"WHO SHOULD ACT","heading":"Sanctions list checked daily","plain_english":"The UNSCR 1718 sanctions list must be checked every single day.","rbi_paragraph":"Para 55","rbi_char_offset":97080,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p56","layer":"bankpulse"},{"n":2,"claim":"md12969-4c793963","page_group":"Chapter IX. Requirements/obligations under International Agreements - Communications from International Agencies","stored_section":"WHO SHOULD ACT","heading":"Duty under the UAPA","plain_english":"The all India financial institution carries duties under section 51A of the Unlawful Activities Prevention Act.","rbi_paragraph":"Para 53","rbi_char_offset":92143,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p57","layer":"bankpulse"},{"n":3,"claim":"md12969-5fe050e5","page_group":"Chapter IX. Requirements/obligations under International Agreements - Communications from International Agencies","stored_section":"WHO SHOULD ACT","heading":"Duty under the WMD Act","plain_english":"Separate duties arise under the Weapons of Mass Destruction Act of 2005.","rbi_paragraph":"Para 54","rbi_char_offset":94469,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p58","layer":"bankpulse"},{"n":1,"claim":"md12969-06be154f","page_group":"Chapter X. Other Instructions","stored_section":"KEY DATES","heading":"Ten days to the registry","plain_english":"A new customer's KYC record goes to the central registry within ten days.","rbi_paragraph":"Para 62(2)","rbi_char_offset":101648,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p59","layer":"bankpulse"},{"n":2,"claim":"md12969-ab98d176","page_group":"Chapter X. Other Instructions","stored_section":"KEY DATES","heading":"Seven days for an update","plain_english":"Updated customer information must reach the central registry within seven days.","rbi_paragraph":"Para 62(10)","rbi_char_offset":103200,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p60","layer":"bankpulse"},{"n":3,"claim":"md12969-e3f0d29a","page_group":"Chapter X. Other Instructions","stored_section":"WHAT CHANGES","heading":"Money mule accounts","plain_english":"The all India financial institution must find accounts used as money mules and report them to FIU-IND.","rbi_paragraph":"Para 64","rbi_char_offset":108061,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p61","layer":"bankpulse"},{"n":4,"claim":"md12969-a0b58ac6","page_group":"Chapter X. Other Instructions","stored_section":"WHAT CHANGES","heading":"No dealing with shell banks","plain_english":"A correspondent relationship with a shell bank cannot be opened or continued.","rbi_paragraph":"Para 68(7)","rbi_char_offset":111348,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p62","layer":"bankpulse"},{"n":5,"claim":"md12969-7293a66a","page_group":"Chapter X. Other Instructions","stored_section":"WHAT CHANGES","heading":"Nor through another bank","plain_english":"The respondent bank must not let a shell bank use its accounts either.","rbi_paragraph":"Para 68(8)","rbi_char_offset":111464,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p63","layer":"bankpulse"},{"n":6,"claim":"md12969-53d471b4","page_group":"Chapter X. Other Instructions","stored_section":"KEY DATES","heading":"Three days for details","plain_english":"Details of a wire transfer must be supplied within three working days of a request.","rbi_paragraph":"Para 69(1)","rbi_char_offset":114301,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p64","layer":"bankpulse"},{"n":7,"claim":"md12969-7e6b236e","page_group":"Chapter X. Other Instructions","stored_section":"WHAT CHANGES","heading":"Transfer stopped if unclear","plain_english":"The all India financial institution must not send the transfer if it cannot meet these rules.","rbi_paragraph":"Para 69(1)","rbi_char_offset":116804,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p65","layer":"bankpulse"},{"n":8,"claim":"md12969-35285c4c","page_group":"Chapter X. Other Instructions","stored_section":"WHO SHOULD ACT","heading":"Foreign tax reporting too","plain_english":"The rules on foreign account tax reporting must be followed alongside these.","rbi_paragraph":"Para 63","rbi_char_offset":105767,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p66","layer":"bankpulse"},{"n":9,"claim":"md12969-79db913a","page_group":"Chapter X. Other Instructions","stored_section":"WHO SHOULD ACT","heading":"Training differs by role","plain_english":"Training must differ for counter staff, compliance staff and staff opening new accounts.","rbi_paragraph":"Para 71(3)","rbi_char_offset":122222,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p67","layer":"bankpulse"},{"n":10,"claim":"md12969-e162d543","page_group":"Chapter X. Other Instructions","stored_section":"WHAT CHANGES","heading":"Records sent to CKYCR","plain_english":"Records of company accounts opened on or after 1 April 2021 go to CKYCR.","rbi_paragraph":"Para 62(5)","rbi_char_offset":102329,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p68","layer":"bankpulse"},{"n":1,"claim":"md12969-7f4c8ca1","page_group":"Chapter XI. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Approvals carried over","plain_english":"Approvals given under the cancelled rules are now treated as given under these rules.","rbi_paragraph":"Para 73","rbi_char_offset":123330,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p69","layer":"bankpulse"},{"n":2,"claim":"md12969-66dfbb16","page_group":"Chapter XI. Repeal and Other Provisions","stored_section":"IMPACT","heading":"Other laws still apply","plain_english":"These Directions add to other laws. They do not replace any of them.","rbi_paragraph":"Para 74","rbi_char_offset":124207,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12969#p70","layer":"bankpulse"}],"actions":[],"amendments":[{"id":"nt13233","title":"Reserve Bank of India (All India Financial Institutions – Know Your Customer) Amendment Directions, 2025","date":"Dec 29, 2025","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13233&Mode=0","order":1,"layer":"rbi_source"}],"layers":{"rbi_source":"Facts taken from RBI's own document.","bankpulse":"BankPulse's plain-English summary of RBI's document.","bankpulse_inference":"BankPulse's own inference, not stated by RBI."},"rbi_wording_not_included":"By design. BankPulse never republishes RBI's exact sentences. Use rbi_paragraph with rbi_source.url to read RBI's own words.","terms":"BankPulse's plain-English summaries are BankPulse's own work. The underlying regulation is the Reserve Bank of India's. Always check the RBI document named in rbi_source before acting."}